Braze (NASDAQ:BRZE) PT Lowered to $51.00 at Oppenheimer

Braze (NASDAQ:BRZE) had its price objective lowered by Oppenheimer from $60.00 to $51.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on BRZE. BTIG Research dropped their price objective on Braze from $68.00 to $62.00 and set a buy rating on the stock in a report on Friday, May 31st. Raymond James cut their price objective on shares of Braze from $65.00 to $55.00 and set an outperform rating for the company in a research report on Friday, June 7th. Loop Capital reiterated a buy rating and issued a $75.00 price target on shares of Braze in a report on Tuesday. DA Davidson restated a buy rating and set a $65.00 target price on shares of Braze in a report on Friday, September 6th. Finally, Canaccord Genuity Group lifted their price objective on Braze from $50.00 to $53.00 and gave the stock a buy rating in a research report on Friday, June 7th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and an average target price of $59.18.

Braze Price Performance

BRZE opened at $33.22 on Tuesday. The business has a fifty day moving average price of $39.73 and a 200 day moving average price of $40.82. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. Braze has a 12 month low of $31.80 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the company earned ($0.30) EPS. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, research analysts anticipate that Braze will post -1.02 earnings per share for the current year.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 9,178 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $379,693.86. Following the transaction, the insider now owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Myles Kleeger sold 9,178 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the sale, the insider now directly owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,104,920. The disclosure for this sale can be found here. Insiders have sold 186,465 shares of company stock worth $8,054,420 over the last quarter. 24.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of BRZE. Vanguard Group Inc. increased its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after buying an additional 128,645 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after buying an additional 1,287,500 shares in the last quarter. Fiera Capital Corp raised its holdings in Braze by 1.0% during the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after acquiring an additional 7,570 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Braze in the 4th quarter valued at about $37,584,000. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.